CNBC's Francis and Haines Call Senate Bailout Bill Tax Add-Ons 'Crap'

You've got to love brutal honesty, especially when it comes from the financial media.

The Senate's version of a bailout bill, which passed last night by a margin of 74-25, included "sweeteners" - or obscure tax breaks - including benefits for the manufacturer of wooden arrows used in children's toys and another for litigants in the 1989 Exxon Valdez oil spill.

Melissa Francis, co-host of CNBC's "The Call," and "Squawk on the Street" co-host Mark Haines called it all "crap" on their Oct. 1 special coverage of the vote on the network. Their description was similar to the one used by House Minority Leader John Boehner's regarding the House version of the bailout: "crap sandwich."

FRANCIS: "Steve, what about all this crap they added on? I mean - the arrows and the ..."

CNBC Correspondent STEVE LEISMAN: "I didn't call it this ..."

FRANCIS: "Well, I called it crap. It's crap. Mark, is it crap?"

HAINES: "I will second that emotion."

LEISMAN: "You didn't say the word."

HAINES: "Crap - it's crap. Are you happy now?"

LEISMAN: "OK - you did."

FRANCIS: "I'm less delicate than you guys are."

The bailout portion of the bill is similar to the House bailout, which was defeated. It includes the $700 billion, but an additional $150 billion in tax extenders. In the same segment, Dan Mitchell, Senior Fellow at the Cato Institute and Business & Media Institute adviser described the bill as "lose-lose" and referred to similar bailouts that occurred in Japan and Argentina.

 "It's a lose-lose situation for taxpayers because we're going to get raped $700 billion to bail out Wall Street in a way that's going to make our economy worse just like it made Japan's economy worse in the 1990s and we're paying for it with a bunch of special interest provisions," Mitchell said. "Making government bigger and more powerful is not a recipe for prosperity. We don't want to be like Argentina."

Economy Stock Market Earmarks Government Agencies CNBC Squawk on the Street The Call Video Larry Kudlow Steve Leisman Mark Haines Dan Mitchell Melissa Francis